UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C.  20549
                              _____________________

                                   FORM 10QSB


                    Under Section 12(b) or Section 12(g) of
                      The Securities Exchange Act of 1934
                      for the quarter ended March 31, 2004

                              TREND MINING COMPANY
                 (Name of Small Business Issuer in its Charter)

                 Delaware                                    81-0304651
    (State  or  Other  Jurisdiction  of                  (I.R.S.  Employer
      Incorporation  or  Organization)                  Identification  No.)


                            4881 East Shoreline Drive
                            Post Falls, Idaho 83854

                    (Address of principal executive office)

                    Issuer's telephone number: (208) 773-2250


          Securities to be registered under Section 12(b) of the Act:

                                      None
                                (Title of Class)

          Securities to be registered under Section 12(g) of the Act:

                             Common par value $0.01
                                (Title of Class)

________________________________________________________________________________
Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding  12  months  (or  for such shorter period that the registrant was
required  to  file  such  reports),  and  (2)  has  been  subject to such filing
requirements  for  the  past  90  days.

Yes  [x]  No  [ ]

The  number  of  shares  outstanding  at  May  14,  2004:  33,229,085  shares


<PAGE>
                              TREND MINING COMPANY

                                   Form 10-QSB

                                      Index

PART I.       FINANCIAL  INFORMATION
     Item 1.  Financial  Statements  and  Notes
     Item 2.  Management's  Discussion  and  Analysis of Financial Condition and
              Results  of  Operations
     Item 3.  Controls  and  Procedures
PART II.      OTHER  INFORMATION
     Item 1.  Legal  Proceedings
     Item 2.  Changes  in  Securities  and  Use  of  Proceeds
     Item 3.  Defaults  Upon  Senior  Securities.
     Item 4.  Submission  Of  Matters  To  A  Vote  Of  Security  Holders.
     Item 5.  Other  Information.
     Item 6.  Exhibits  and  Reports  on  Form  8-K


<PAGE>
ITEM 1.       FINANCIAL STATEMENTS AND NOTES

<TABLE>
<CAPTION>
TREND MINING COMPANY
(AN EXPLORATION STAGE COMPANY)
BALANCE SHEETS
------------------------------------------------------------------------------------------------------

                                                                    March 31,
                                                                       2004           September 30,
                                                                   (unaudited)            2003
                                                                ------------------  ------------------
<S>                                                             <C>                 <C>
ASSETS

CURRENT ASSETS
  Cash                                                          $           3,796   $           2,558
                                                                ------------------  ------------------
    TOTAL CURRENT ASSETS                                                    3,796               2,558
                                                                ------------------  ------------------

MINERAL PROPERTIES                                                              -                   -
                                                                ------------------  ------------------

PROPERTY AND EQUIPMENT, net of depreciation                                 3,793               5,172
                                                                ------------------  ------------------

OTHER ASSETS
  Investments                                                              24,270              57,300
                                                                ------------------  ------------------

TOTAL ASSETS                                                    $          31,859   $          65,030
                                                                ==================  ==================

LIABILITIES AND STOCKHOLDERS' DEFICIT

CURRENT LIABILITIES
  Accounts payable                                              $         183,051   $         146,419
  Accounts payable - checks in excess of bank balance                           -               3,297
  Accrued wages                                                            75,100                   -
  Interest payable                                                         84,879             135,425
  Loans payable to stockholders                                         1,072,857           1,097,857
                                                                ------------------  ------------------
    TOTAL CURRENT LIABILITIES                                           1,415,887           1,382,998
                                                                ------------------  ------------------

COMMITMENTS AND CONTINGENCIES                                                   -                   -
                                                                ------------------  ------------------

STOCKHOLDERS' DEFICIT
  Preferred stock,  $0.01 par value, 20,000,000 shares
    authorized; 0 shares issued and outstanding, respectively                   -                   -
  Common stock,  $0.01 par value, 100,000,000
    shares authorized; 33,229,085 shares issued
    and outstanding, respectively                                         332,291             332,291
  Additional paid-in capital                                            6,255,998           6,246,963
  Stock options and warrants                                            1,374,007           1,383,042
  Pre-exploration stage accumulated deficit                              (558,504)           (558,504)
  Accumulated deficit during exploration stage                         (8,756,590)         (8,723,560)
  Other comprehensive income (loss)                                       (31,230)              1,800
                                                                ------------------  ------------------
    TOTAL STOCKHOLDERS' DEFICIT                                        (1,384,028)         (1,317,968)
                                                                ------------------  ------------------

TOTAL LIABILITIES AND
  STOCKHOLDERS' DEFICIT                                         $          31,859   $          65,030
                                                                ==================  ==================
</TABLE>

    The accompanying condensed notes are an integral part of these financial
                                  statements.


                                        1
<PAGE>
<TABLE>
<CAPTION>
TREND  MINING  COMPANY
(AN  EXPLORATION  STAGE  COMPANY)
STATEMENTS  OF  OPERATIONS
----------------------------------------------------------------------------------------------------------------------------

                                                                                                             Period from
                                                                                                           October 1, 1996
                                                                                                            (Inception of
                                                  Three Months   Three Months   Six Months   Six Months   Exploration Stage)
                                                     Ended           Ended         Ended        Ended             to
                                                   March 31,       March 31,     March 31,    March 31,       March 31,
                                                      2004           2003          2004         2003             2004
                                                  (unaudited)     (unaudited)   (unaudited)  (unaudited)     (unaudited)
                                                 --------------  -------------  -----------  -----------  ------------------
<S>                                              <C>             <C>            <C>          <C>          <C>
REVENUES                                         $           -   $          -   $        -   $        -   $               -
                                                 --------------  -------------  -----------  -----------  ------------------

EXPENSES
  Exploration expense                                        -         25,852            -       58,979           2,909,066
  General and administrative                            14,540        113,226       44,720      230,146           2,345,709
  Officers and directors compensation                   38,100         18,454       75,100       36,908           1,423,496
  Legal and professional                                54,836         13,366       77,633       34,752           1,215,411
  Depreciation                                             690          2,668        1,379        5,396              50,355
                                                 --------------  -------------  -----------  -----------  ------------------
    Total Expenses                                     108,166        173,566      198,832      366,181           7,944,037
                                                 --------------  -------------  -----------  -----------  ------------------

OPERATING LOSS                                        (108,166)      (173,566)    (198,832)    (366,181)         (7,944,037)
                                                 --------------  -------------  -----------  -----------  ------------------

OTHER INCOME (EXPENSE)
  Dividend and interest income                               -              -            -            -               6,398
  Gain on sale of internal securities                  210,194              -      210,194            -             210,194
  Gain (loss) on disposition and impairment of
    assets                                                   -              -            -            -            (177,519)
  Gain (loss) on investment sales                            -         29,167            -       29,167             (23,080)
  Financing expense                                          -              -            -            -          (1,135,113)
  Interest expense                                     (25,629)       (19,538)     (44,531)     (41,201)           (268,345)
  Miscellaneous income                                    (117)             -          139            -              10,484
  Forgiveness of debt                                        -              -            -      122,354             564,428
                                                 --------------  -------------  -----------  -----------  ------------------
    Total Other Income (Expense)                       184,448          9,629      165,802      110,320            (812,553)
                                                 --------------  -------------  -----------  -----------  ------------------

INCOME (LOSS) BEFORE INCOME TAXES                       76,282       (163,937)     (33,030)    (255,861)         (8,756,590)

INCOME TAXES                                                 -              -            -            -                   -

                                                 --------------  -------------  -----------  -----------  ------------------
NET INCOME (LOSS)                                       76,282       (163,937)     (33,030)    (255,861)         (8,756,590)
                                                 --------------  -------------  -----------  -----------  ------------------

OTHER COMPREHENSIVE INCOME (LOSS)
  Change in market value of investments                (17,130)             -      (33,030)           -             (31,230)
                                                 --------------  -------------  -----------  -----------  ------------------

NET COMPREHENSIVE INCOME (LOSS)                  $      59,152   $   (163,937)  $  (66,060)  $ (255,861)  $      (8,787,820)
                                                 ==============  =============  ===========  ===========  ==================


BASIC AND DILUTED NET INCOME (LOSS) PER
  SHARE                                          $          nil  $      (0.01)  $       nil  $    (0.01)
                                                 ==============  =============  ===========  ===========
WEIGHTED AVERAGE NUMBER OF
  COMMON SHARES OUTSTANDING                         33,229,085     29,749,407   33,229,085   26,173,608
                                                 ==============  =============  ===========  ===========
</TABLE>

    The accompanying condensed notes are an integral part of these financial
                                  statements.


                                        2
<PAGE>
<TABLE>
<CAPTION>
TREND MINING COMPANY
(AN EXPLORATION STAGE COMPANY)
STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIT)
----------------------------------------------------------------------------------------------------------------------

                                                          Common Stock
                                                       ------------------    Additional      Stock
                                                        Number                Paid-in     Options and    Accumulated
                                                       of Shares   Amount     Capital       Warrants       Deficit
                                                       ---------  --------  ------------  ------------  --------------
<S>                                                    <C>        <C>       <C>           <C>           <C>
Balance, October 1, 1996                               1,754,242  $ 17,542  $    663,218             -  $    (558,504)

Common stock issuances as follows:
  - for cash at $0.50 per share                          200,000     2,000        98,000             -              -
  - for payment of liabilities and expenses at $0.50
      per share                                           45,511       455        22,301             -              -

Net loss for the year ended September 30, 1997                 -         -             -             -       (128,614)
                                                       ---------  --------  ------------  ------------  --------------

Balance, September 30, 1997                            1,999,753    19,997       783,519             -       (687,118)

Issuance of common stock as follows:
  - for mineral property at $0.50 per share              150,000     1,500        73,500             -              -
  - for lease termination at $0.50 per share              12,000       120         5,880             -              -
  - for debt at $0.50 per share                           80,000       800        39,200             -              -
  - for cash at $0.20 per share                            7,500        75         1,425             -              -
  - for compensation at $0.50 per share                    9,000        90         4,410             -              -

Issuance of stock options for financing activities             -         -             -         2,659              -

Net loss for the year ended September 30, 1998                 -         -             -             -       (119,163)

Change in market value of investments                          -         -             -             -              -
                                                       ---------  --------  ------------  ------------  --------------

Balance, September 30, 1998                            2,258,253  $ 22,582  $    907,934  $      2,659  $    (806,281)
                                                       ---------  --------  ------------  ------------  --------------


                                                          Other
                                                       Comprehensive
                                                       Income (Loss)     Total
                                                       --------------  ----------
<S>                                                    <C>             <C>
Balance, October 1, 1996                                            -  $ 122,256

Common stock issuances as follows:
  - for cash at $0.50 per share                                     -    100,000
  - for payment of liabilities and expenses at $0.50
    per share                                                       -     22,756

Net loss for the year ended September 30, 1997                      -   (128,614)
                                                       --------------  ----------

Balance, September 30, 1997                                         -    116,398

Issuance of common stock as follows:
  - for mineral property at $0.50 per share                         -     75,000
  - for lease termination at $0.50 per share                        -      6,000
  - for debt at $0.50 per share                                     -     40,000
  - for cash at $0.20 per share                                     -      1,500
  - for compensation at $0.50 per share                             -      4,500

Issuance of stock options for financing activities                  -      2,659

Net loss for the year ended September 30, 1998                      -   (119,163)

Change in market value of investments                         117,080    117,080
                                                       --------------  ----------

Balance, September 30, 1998                            $      117,080  $ 243,974
                                                       --------------  ----------
</TABLE>

    The accompanying condensed notes are an integral part of these financial
                                  statements.


                                        3
<PAGE>
<TABLE>
<CAPTION>
TREND MINING COMPANY
(AN EXPLORATION STAGE COMPANY)
STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIT)
----------------------------------------------------------------------------------------------------------------------

                                                            Common  Stock
                                                          ------------------   Additional    Stock
                                                           Number               Paid-in    Options and    Accumulated
                                                          of Shares  Amount     Capital     Warrants       Deficit
                                                          ---------  -------  -----------  -----------  --------------
<S>                                                       <C>        <C>      <C>          <C>          <C>

Balance, September 30, 1998                               2,258,253  $22,582  $   907,934  $     2,659  $    (806,281)

Common stock issuances as follows:
  - for cash at an average of $0.07 per share               555,000    5,550       35,450            -              -
  - for prepaid expenses at $0.33 per share                  50,000      500       16,000            -              -
  - for consulting services at an average of
    0.20 per share                                          839,122    8,391      158,761            -              -
  - for mineral property at $0.13 per share                 715,996    7,160       82,470            -              -
  - for officers' compensation at an average of
    0.24 per share                                          300,430    3,004       70,522            -              -
  - for debt,  investment and expenses at $0.30 per share     9,210       92        2,671            -              -
  - for directors' compensation at an average of
    0.25 per share                                           16,500      165        3,960            -              -
  - for rent at $0.25 per share                               1,000       10          240            -              -
  - for equipment at $0.30 per share                        600,000    6,000      174,000            -              -

Net loss for the year ended  September 30, 1999                   -        -            -            -       (716,759)

Other comprehensive loss                                          -        -            -            -              -
                                                          ---------  -------  -----------  -----------  --------------

Balance, September 30, 1999                               5,345,511  $53,454  $ 1,452,007  $     2,659  $  (1,523,040)
                                                          ---------  -------  -----------  -----------  --------------


                                                              Other
                                                          Comprehensive
                                                          Income (Loss)    Total
                                                          -------------  ---------
<S>                                                       <C>            <C>

Balance, September 30, 1998                               $    117,080   $243,974

Common stock issuances as follows:
  - for cash at an average of $0.07 per share                        -     41,000
  - for prepaid expenses at $0.33 per share                          -     16,500
  - for consulting services at an average of
    0.20 per share                                                  -    167,152
  - for mineral property at $0.13 per share                          -     89,630
  - for officers' compensation at an average of
    0.24 per share                                                  -     73,526
  - for debt,  investment and expenses at $0.30 per share            -      2,763
  - for directors' compensation at an average of
    0.25 per share                                                  -      4,125
  - for rent at $0.25 per share                                      -        250
  - for equipment at $0.30 per share                                 -    180,000

Net loss for the year ended  September 30, 1999                      -   (716,759)

Other comprehensive loss                                       (79,179)   (79,179)
                                                          -------------  ---------

Balance, September 30, 1999                               $     37,901   $ 22,982
                                                          -------------  ---------
</TABLE>

    The accompanying condensed notes are an integral part of these financial
                                  statements.


                                        4
<PAGE>
<TABLE>
<CAPTION>
TREND MINING COMPANY
(AN EXPLORATION STAGE COMPANY)
STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIT)
----------------------------------------------------------------------------------------------------------------------

                                                       Common Stock
                                                   -------------------    Additional     Stock                          Other
                                                     Number                Paid-in    Options and     Accumulated   Comprehensive
                                                    of Shares   Amount     Capital      Warrants        Deficit      Income (Loss)
                                                   -----------  -------  -----------  ------------  --------------  -------------
<S>                                                <C>          <C>      <C>          <C>           <C>             <C>
Balance, September 30, 1999                         5,345,511   $53,454  $ 1,452,007  $     2,659   $  (1,523,040)  $     37,901

Common stock and option issuances as follows:
  - for employee, officer and director
    compensation at an average of
    0.61 per share                                    231,361     2,314      140,446       15,820               -              -
  - for officers' and directors' compensation
    at an average of $1.19 per share                   11,500       115       13,615            -               -              -
  - for services at an average of $0.47 per share     530,177     5,302      246,333            -               -              -
  - for mineral property at $0.89 per share         1,000,000     1,000       88,000            -               -              -
  - for investments at $0.33 per share                200,000     2,000       64,000            -               -              -
  - for cash at $0.08 per share                       456,247     4,562       28,969            -               -              -
  - for cash, options and warrants                    100,000    10,000        2,414       87,586               -              -
  - for incentive fees at $0.33 per share              65,285       653       20,891            -               -              -
  - for deferred mineral property acquisition
    costs at $0.13 per share                          129,938     1,299       14,943            -               -              -
  - for modification of stockholder agreement
    at $0.60 per share                                200,000     2,000      118,000       30,000               -              -
  - for modification of stockholder agreement               -         -        4,262       10,379               -              -
  -from exercise of options at $0.12 per share      9,962,762    99,628    1,103,016      (37,524)              -              -

Cash received for the issuance of common stock
warrants for 7,979,761 shares of stock                      -         -            -       10,000               -              -

Miscellaneous common stock adjustments                     (5)        -            -            -               -              -

Net loss for the year ended  September 30, 2000             -         -            -            -      (2,186,541)             -

Other comprehensive income (loss)                           -         -            -            -               -        (38,314)

                                                   -----------  --------  -----------  ------------  --------------  -------------
Balance, September 30, 2000                        18,232,776   $182,327  $ 3,296,897  $   118,920   $  (3,709,581)  $       (413)
                                                   -----------  --------  -----------  ------------  --------------  -------------


                                                      Total
                                                   -----------
<S>                                                <C>
Balance, September 30, 1999                        $   22,982

Common stock and option issuances as follows:
  - for employee, officer and director
    compensation at an average of
    0.61 per share                                    158,580
  - for officers' and directors' compensation
    at an average of $1.19 per share                   13,730
  - for services at an average of $0.47 per share     251,635
  - for mineral property at $0.89 per share            89,000
  - for investments at $0.33 per share                 66,000
  - for cash at $0.08 per share                        33,531
  - for cash, options and warrants                    100,000
  - for incentive fees at $0.33 per share              21,544
  - for deferred mineral property acquisition
    costs at $0.13 per share                           16,242
  - for modification of stockholder agreement
    at $0.60 per share                                150,000
  - for modification of stockholder agreement          14,641
  -from exercise of options at $0.12 per share      1,165,120

Cash received for the issuance of common stock
warrants for 7,979,761 shares of stock                 10,000

Miscellaneous common stock adjustments                      -

Net loss for the year ended  September 30, 2000    (2,186,541)

Other comprehensive income (loss)                     (38,314)

                                                   -----------
Balance, September 30, 2000                        $ (111,850)
                                                   -----------
</TABLE>

    The accompanying condensed notes are an integral part of these financial
                                  statements.


                                        5
<PAGE>
<TABLE>
<CAPTION>
TREND MINING COMPANY
(AN EXPLORATION STAGE COMPANY)
STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIT) (CONTINUED)
-------------------------------------------------------------------------------------------------------------------

                                                                      Common Stock
                                                                  -------------------   Additional       Stock
                                                                    Number                Paid-in     Options and
                                                                  of Shares    Amount     Capital       Warrants
                                                                  ----------  --------  ------------  -------------
<S>                                                               <C>         <C>       <C>           <C>
Balance, September 30, 2000                                       18,232,776  $182,327  $  3,296,897  $    118,920

Common stock and option issuances as follows:
  - for cash of $1.00 per share                                      192,000     1,920       190,080             -
  - for cash and consulting services from
    options for $0.39 per share                                       33,333       333        12,737        (3,070)
  - for services at an average of $0.92 per share                     13,700       137        12,463             -
  - for officer and employee compensation at
    $1.13 per share                                                    5,200        52         5,828             -
  - for payment of accrued officer's compensation
    at $1.35 per share                                                10,000       100        13,400             -
  - for consulting services at an ave of $0.77 per share              45,461       455        34,247             -
  - for directors' compensation at $0.85 per share                    75,000       750        63,000             -
  - for modification of contract at $0.78 per share                    3,000        30         2,310             -
  - for interest payment on contract
    at an average of $0.80 per share                                  10,000       100         7,900             -
  - for mineral property expenses at $0.85 per share                   1,000        10           840             -
  - for debt at $1.00 per share                                      134,500     1,345       133,155             -

Options issued to officers, directors and employees for services           -         -             -       354,000

Warrants issued as follows:
  - for consulting services                                                -         -             -       170,521
  - for loan agreements                                                    -         -             -       141,547
  - for extension of exercise period
    on outstanding warrants                                                -         -             -       608,058

Net loss for the year ended September 30, 2001                             -         -             -             -

Other comprehensive income                                                 -         -             -             -
                                                                  ----------  --------  ------------  -------------
Balance, September 30, 2001                                       18,755,970  $187,559  $  3,772,856  $  1,389,976
                                                                  ----------  --------  ------------  -------------

                                                                                      Other
                                                                   Accumulated    Comprehensive
                                                                     Deficit      Income (Loss)     Total
                                                                  --------------  -------------  ------------
<S>                                                               <C>             <C>            <C>
Balance, September 30, 2000                                       $  (3,709,581)  $       (413)  $  (111,850)

Common stock and option issuances as follows:
  - for cash of $1.00 per share                                               -              -       192,000
  - for cash and consulting services from
    options for $0.39 per share                                               -              -        10,000
  - for services at an average of $0.92 per share                             -              -        12,600
  - for officer and employee compensation at
    $1.13 per share                                                           -              -         5,880
  - for payment of accrued officer's compensation
    at $1.35 per share                                                        -              -        13,500
  - for consulting services at an ave of $0.77 per share                      -              -        34,702
  - for directors' compensation at $0.85 per share                            -              -        63,750
  - for modification of contract at $0.78 per share                           -              -         2,340
  - for interest payment on contract
    at an average of $0.80 per share                                          -              -         8,000
  - for mineral property expenses at $0.85 per share                          -              -           850
  - for debt at $1.00 per share                                               -              -       134,500

Options issued to officers, directors and employees for services              -              -       354,000

Warrants issued as follows:
  - for consulting services                                                   -              -       170,521
  - for loan agreements                                                       -              -       141,547
  - for extension of exercise period
    on outstanding warrants                                                   -              -       608,058

Net loss for the year ended September 30, 2001                       (3,437,354)             -    (3,437,354)

Other comprehensive income                                                    -            413           413
                                                                  --------------  -------------  ------------
Balance, September 30, 2001                                       $  (7,146,935)             -   $(1,796,543)
                                                                  --------------  -------------  ------------
</TABLE>

    The accompanying condensed notes are an integral part of these financial
                                  statements.


                                        6
<PAGE>
<TABLE>
<CAPTION>
TREND MINING COMPANY
(AN EXPLORATION STAGE COMPANY)
STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIT) (CONTINUED)
-------------------------------------------------------------------------------------------------------------------

                                                                      Common Stock
                                                                  --------------------   Additional      Stock
                                                                    Number                Paid-in     Options and
                                                                  of Shares    Amount     Capital       Warrants
                                                                  ----------  --------  ------------  -------------
<S>                                                               <C>         <C>       <C>           <C>

Balance, September 30, 2001                                       18,755,970  $187,559  $  3,772,856  $  1,389,976

Common stock issuances as follows:
  - for cash at $0.10 per share                                    2,500,000    25,000       225,000             -
  - for a note payable at $1.00 per share                             25,000       250        24,750             -
  - for consulting fees payable at $0.55 per share                    12,536       126         6,769             -
  - for mineral properties at $0.70 per share                      1,100,000    11,000       759,000             -
  - for services at an average of $0.49 per share                    112,500     1,125        53,625             -
  - for financing expense at an average of $0.44 per share            82,429       824        35,369             -

Options issued to officers, directors and employees for services           -         -             -        29,528

Warrants issued as follows:
  - for loan agreements                                                    -         -             -        55,352

Expiration of stock options and warrants                                   -         -        91,814       (91,814)

Interest expense forgiven by shareholders                                  -         -        42,950             -

Net loss for the year ended September 30, 2002                             -         -             -             -
                                                                  ----------  --------  ------------  -------------
Balance, September 30, 2002                                       22,588,435   225,884     5,012,133     1,383,042

Common stock issuances as follows:
  - miscellaneous common stock adjustment                             29,555       296             -             -
  - for cash at $0.10 per share                                    5,500,000    55,000       495,000             -
  - for consulting services at an average of $0.15 per share       1,763,779    17,638       243,362             -
  - for loans payable at an average of $0.10 per share               369,160     3,692        33,225             -
  - for prior period services at an average of $.13 per share        245,000     2,450        30,550             -
  - for investments at $0.21 per share                               450,000     4,500        88,668             -
  - to officers and directors for services at $.10 per share       1,423,156    14,231       129,025             -
  - penalty shares at $.26 per share                                 860,000     8,600       215,000             -

Change in market value of investments                                      -         -             -             -

Net loss for the year ended September 30, 2003                             -         -             -             -
                                                                  ----------  --------  ------------  -------------
Balance, September 30, 2003                                       33,229,085  $332,291  $  6,246,963  $  1,383,042
                                                                  ----------  --------  ------------  -------------

                                                                                      Other
                                                                   Accumulated    Comprehensive
                                                                     Deficit      Income (Loss)     Total
                                                                  --------------  -------------  ------------
<S>                                                               <C>             <C>            <C>

Balance, September 30, 2001                                       $  (7,146,935)              -  $(1,796,543)

Common stock issuances as follows:
  - for cash at $0.10 per share                                               -               -      250,000
  - for a note payable at $1.00 per share                                     -               -       25,000
  - for consulting fees payable at $0.55 per share                            -               -        6,895
  - for mineral properties at $0.70 per share                                 -               -      770,000
  - for services at an average of $0.49 per share                             -               -       54,750
  - for financing expense at an average of $0.44 per share                    -               -       36,193

Options issued to officers, directors and employees for services              -               -       29,528

Warrants issued as follows:                                                                                -
  - for loan agreements                                                       -               -       55,352

Expiration of stock options and warrants                                      -               -            -

Interest expense forgiven by shareholders                                     -               -       42,950

Net loss for the year ended September 30, 2002                       (1,168,171)              -   (1,168,171)
                                                                  --------------  -------------  ------------
Balance, September 30, 2002                                          (8,315,106)              -   (1,694,046)

Common stock issuances as follows:
  - miscellaneous common stock adjustment                                     -               -          296
  - for cash at $0.10 per share                                               -               -      550,000
  - for consulting services at an average of $0.15 per share                  -               -      261,000
  - for loans payable at an average of $0.10 per share                        -               -       36,917
  - for prior period services at an average of $.13 per share                 -               -       33,000
  - for investments at $0.21 per share                                        -               -       93,168
  - to officers and directors for services at $.10 per share                  -               -      143,256
  - penalty shares at $.26 per share                                          -               -      223,600

Change in market value of investments                                         -           1,800        1,800

Net loss for the year ended September 30, 2003                         (966,958)              -     (966,958)
                                                                  --------------  -------------  ------------
Balance, September 30, 2003                                       $  (9,282,064)  $       1,800  $(1,317,968)
                                                                  --------------  -------------  ------------
</TABLE>

    The accompanying condensed notes are an integral part of these financial
                                  statements.


                                        7
<PAGE>
<TABLE>
<CAPTION>
TREND MINING COMPANY
(AN EXPLORATION STAGE COMPANY)
STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIT) (CONTINUED)
---------------------------------------------------------------------------------------------------------------------------

                                                              Common Stock
                                                          -------------------    Additional      Stock
                                                            Number                Paid-in     Options and     Accumulated
                                                           of Shares    Amount    Capital       Warrants        Deficit
                                                          ----------  --------  ------------  -------------  --------------
<S>                                                       <C>         <C>       <C>           <C>            <C>


Balance, September 30, 2003                               33,229,085   332,291     6,246,963     1,383,042      (9,282,064)

Change in market value of investments                              -         -             -             -               -

Expiration of stock options and warrants                           -         -         9,035        (9,035)              -

Net loss for the period ended March 31, 2004 (unaudited)           -         -             -             -         (33,030)
                                                          ----------  --------  ------------  -------------  --------------

Balance, March 31, 2004 (unaudited)                       33,229,085  $332,291  $  6,255,998  $  1,374,007   $  (9,315,094)
                                                          ==========  ========  ============  =============  ==============

                                                              Other
                                                          Comprehensive
                                                          Income (Loss)     Total
                                                          -------------  ------------
<S>                                                       <C>            <C>


Balance, September 30, 2003                                      1,800    (1,317,968)

Change in market value of investments                          (33,030)      (33,030)

Expiration of stock options and warrants                             -             -

Net loss for the period ended March 31, 2004 (unaudited)             -       (33,030)
                                                          -------------  ------------

Balance, March 31, 2004 (unaudited)                       $    (31,230)  $(1,384,028)
                                                          =============  ============
</TABLE>



    The accompanying condensed notes are an integral part of these financial
                                  statements.


                                        8
<PAGE>
<TABLE>
<CAPTION>
TREND MINING COMPANY
(AN EXPLORATION STAGE COMPANY)
STATEMENTS OF CASH FLOWS
-------------------------------------------------------------------------------------------------

                                                                                     Period from
                                                                                   October 1, 1996
                                                                                    (Inception of
                                                          Six Months   Six Months  Exploration Stage)
                                                            Ended        Ended            to
                                                           March 31,    March 31,    December 31,
                                                             2004         2003           2003
                                                          (unaudited)  (unaudited)   (unaudited)
                                                          -----------  -----------  --------------
<S>                                                       <C>          <C>          <C>

CASH FLOWS FROM OPERATING ACTIVITIES:
  Net loss                                                   (33,030)    (255,861)    (8,756,590)
  Adjustments to reconcile net loss to net cash used by
    operating activities:
    Depreciation                                               1,379        5,396         50,355
    Loss on investment sales                                       -      (29,167)        28,236
    Gain on sale of internal securities                     (210,194)           -       (210,194)
    Loss on disposition and impairment of assets                   -            -        185,891
    Loss (Gain) on exchange of property and equipment              -            -         (8,372)
    Gain on forgiveness of debt and interest                       -     (122,354)       (52,849)
    Common stock issued for services
    and expenses                                                   -      149,145      3,090,321
    Stock options and warrants issued for expenses                 -            -        992,778
  Changes in assets and liabilities:
    Inventory                                                      -            -          3,804
    Accounts payable                                          36,632     (224,603)       276,412
    Accounts payable - checks in excess of bank balance       (3,297)           -              7
    Accrued wages                                             75,100      (75,042)           915
    Interest payable                                         (50,546)      41,201         55,983
                                                          -----------  -----------  -------------
  Net cash used by operating activities                     (183,956)    (511,285)    (4,343,303)
                                                          -----------  -----------  -------------

CASH FLOWS FROM INVESTING ACTIVITIES:
    Proceeds from sale of equipment                                -            -         35,125
    Proceeds from sale of mineral property                         -            -         20,000
    Purchase of furniture and equipment                            -            -        (41,695)
    Proceeds from investments sold                                 -            -        143,515
                                                          -----------  -----------  -------------
  Net cash provided by investing activities                        -            -        156,945
                                                          -----------  -----------  -------------

CASH FLOWS FROM FINANCING ACTIVITIES:
    Payments on notes payable and short-term                 (65,000)      (2,054)       (77,056)
     borrowings
    Proceeds from internal securities sale                   210,194            -        210,194
    Sale of warrants for common stock                              -            -         10,000
    Proceeds from short-term borrowings                       40,000            -      1,461,657
    Sale of common stock, subscriptions
    and exercise of options                                        -      550,000      2,358,151
    Issuance of penalty shares                                     -            -        223,600
                                                          -----------  -----------  -------------
  Net cash provided by financing activities                  185,194      547,946      4,186,546
                                                          -----------  -----------  -------------

NET INCREASE IN CASH                                           1,238       36,661            189

CASH, BEGINNING OF PERIOD                                      2,558        2,281          3,607
                                                          -----------  -----------  -------------

CASH, END OF PERIOD                                            3,796       38,942          3,796
                                                          ===========  ===========  =============

SUPPLEMENTAL CASH FLOW INFORMATION:
  Interest paid                                               95,194          602          3,835
  Income taxes paid                                                -            -              -

NON-CASH FINANCING AND INVESTING ACTIVITIES:
  Common stock and warrants issued to acquire
  mineral properties and equipment                                 -            -      1,369,873
  Common stock and options issued for services                     -      149,145      2,667,039
   and expenses
  Stock options  and warrants issued for expenses                  -            -        992,778
  Deferred acquisition costs on mining property                    -            -         46,242
  Purchase of equipment with financing agreement                   -            -         21,814
  Investments received for mineral property                        -            -          5,500
  Investments traded for services                                  -            -         45,939
  Equipment for loans payable                                      -            -          4,500
</TABLE>

    The accompanying condensed notes are an integral part of these financial
                                  statements.


                                        9
<PAGE>
TREND MINING COMPANY
(AN EXPLORATION STAGE COMPANY)
CONDENSED NOTES TO THE FINANCIAL STATEMENTS
MARCH 31, 2004


--------------------------------------------------------------------------------
NOTE 1 - BASIS OF PRESENTATION OF UNAUDITED INTERIM FINANCIAL INFORMATION

The accompanying unaudited financial statements have been prepared in accordance
with  accounting  principles  generally accepted in the United States of America
for  interim  financial statements and with instructions to Form 10-QSB pursuant
to  the  rules  and  regulations  of  the  Securities  and  Exchange Commission.
Accordingly,  they  do not include all of the information required by accounting
principles  generally  accepted  in  the  United  States of America for complete
financial  statements.

The  accompanying  financial  statements  should be read in conjunction with the
audited  financial statements of the Company included in the Company's September
30,  2003  Annual  Report  on  Form  10-KSB.

In  the  opinion  of  management,  all  adjustments,  consisting  only of normal
recurring  accruals  considered  necessary  for  a  fair presentation, have been
included.  The  results  of  operations for the six-month period ended March 31,
2004  are not necessarily representative of operating results to be expected for
the  entire  fiscal  year.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

This  summary  of  significant  accounting  policies  is  presented to assist in
understanding  the Company's financial statements.  The financial statements and
notes  rely on the integrity and objectivity of the Company's management.  These
accounting  policies  conform to accounting principles generally accepted in the
United  States  of America and have been consistently applied in the preparation
of  the  financial  statements.

Estimates
---------
The preparation of financial statements in conformity with accounting principles
generally  accepted  in the United States of America requires management to make
estimates  and  assumptions  that  affect  the  reported  amounts  of assets and
liabilities  and  disclosure of contingent assets and liabilities at the date of
the  financial  statements  and  the  reported  amounts of revenues and expenses
during  the reporting period.  Actual results could differ from those estimates.

Going Concern
-------------
As shown in the accompanying financial statements, the Company has limited cash,
has negative working capital, has no revenues, and has an accumulated deficit of
$9,315,094.  These  factors  indicate that the Company may be unable to continue
in  existence  in  the  absence  of receiving additional funding.  The financial
statements  do  not  include  any  adjustments related to the recoverability and
classification  of  recorded  assets,  or  the  amounts  and  classification  of
liabilities  that might be necessary in the event the Company cannot continue in
existence.  The  Company  is  actively seeking additional capital.  Management's
plans  for  the  next 12 months include, in addition to its annual land payments
and  general  and administrative expenses, exploration activity on the Lake Owen
and  Peter Lake properties totaling approximately $125,000.  Management believes
it  can  sell additional stock or debt to enable the Company to continue to fund


                                       10
<PAGE>
TREND MINING COMPANY
(AN EXPLORATION STAGE COMPANY)
CONDENSED NOTES TO THE FINANCIAL STATEMENTS
MARCH 31, 2004


--------------------------------------------------------------------------------
its operations for the next 12 months.  However, management is unable to provide
assurances  that  it  will  be  successful  in  obtaining  sufficient sources of
capital.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Reclassification
----------------
Certain  amounts  from  prior  periods  have been reclassified to conform to the
current  period  presentation.  These reclassifications have not resulted in any
changes  to  the  Company's  accumulated  deficit  or  net  losses  presented.


NOTE 3 - RELATED PARTY TRANSACTIONS

Notes  Payable  -  Related  Parties
-----------------------------------
The following summarizes activity of loan amounts due to related parties (all of
which  are  unsecured)  since  September  30,  2003:


     Notes Payable as of September 30, 2002                  $ 1,097,857
     Additions                                                    40,000
     Repayments                                                  (65,000)
                                                             ------------
     Notes Payable as of March 31, 2004                      $ 1,072,857
                                                             ============


On  February  12,  2004,  the Company and Electrum and LCM Holdings (hereinafter
"the  Kaplan  Parties  or "the Lenders") reached an agreement to adjust both the
conversion terms on approximately $900,000 worth of debt outstanding to them and
the  exercise  prices  of related warrants.  Per the terms of the agreement, the
Lenders  can  convert each $1.25 of loans into a unit consisting of one share of
common  stock  and one warrant.  The warrant is exercisable for a period of five
years  from  the  date  of  conversion  and  is exercisable at a price of $1.50.
Additionally,  terms  of  existing  outstanding  warrants  were  modified  which
generally  increased  the  exercise  price  and shortened the related expiration
dates.  These  modifications  had  no  impact  on  net  income  for  the period.

Furthermore, also on February 12, 2004 the Company reached an agreement with the
Lenders concerning certain prior separate stock transactions which had benefited
certain  controlling  shareholders.  In  compliance  with  the  Securities  and
Exchange  Rule  16b,  the  shareholders  remitted  the  gain  of $210,194 to the
Company.  This  gain  is  reflected  in the income statement as internal gain of
sale  of  securities.


                                       11
<PAGE>
TREND MINING COMPANY
(AN EXPLORATION STAGE COMPANY)
CONDENSED NOTES TO THE FINANCIAL STATEMENTS
MARCH 31, 2004


--------------------------------------------------------------------------------
NOTE 4 - INVESTMENTS

The  Company's  securities  investments are classified as trading securities and
are recorded at fair value as of the balance sheet date, with the change in fair
value  during  the  period  included  in  earnings.

The  Company's  investments  are  summarized  as  follows:

                                         March 31,   September 30,
                                           2004          2003
                                        -----------  ---------------
      Fair  value:
        Western Goldfields, Inc.        $   24,270     $     57,300
      Gross unrealized loss / (gain)        31,230           (1,800)
                                        -----------  ---------------
      Cost                              $   55,500     $     55,500
                                        ===========  ===============

NOTE 5 - COMMITMENTS AND CONTINGENCIES

Consulting Agreement
--------------------

On  November  17,  2003, the Company entered into a 12-month business consulting
agreement with LYONS CAPITAL, LLC (hereinafter "Lyons").  Under this term of the
agreement,  the  Company is required to issue 40,000 shares of restricted common
stock  for each month of service plus pay Lyons a cash finder's fee equaling 10%
of  sums  received  from investors whom Lyons introduces to the Company.   As of
March 31, 2004, the Company has accrued approximately $18,000 for services under
this  agreement.  These services are expected to be paid through the issuance of
common  stock  at  a  later  date.  The  Company  and  Lyons  are  currently  in
negotiations  regarding  the  continuation  of  this  agreement.

NOTE 6 - SUBSEQUENT EVENTS

In  May  2004,  the  Company  raised $300,000 through a private placement of the
Company's  restricted  common  stock  at  $0.20  per  share.


                                       12
<PAGE>
ITEM 2.  MANAGEMENT'S  DISCUSSION  AND  ANALYSIS  OR  PLAN  OF  OPERATIONS

Our operating losses for the three-month period ended March 31, 2004, were
$108,166. However, due to a one-time gain as a result of a legal settlement, the
Company recorded a profit of $76,282. Overall, our Company continues to incur
losses. Our accumulated deficit since inception of the current exploration stage
is $8,756,590. Our total loss since inception of the company is $9,315,094. Our
third quarter operating loss is due primarily to legal and professional fees of
$54,836 and officer and director compensation of $38,100.

Our operating cash at the end of the quarter totaled $3,796. We also own equity
securities which are of limited liquidity and which we have been selling from
time-to-time in order to raise additional operating capital. At March 31, 2004,
the market value of such securities was $24,270. We intend to sell the balance
of these securities over the next three months to assist with funding the
operations of the Company.

The Company needs approximately $30,000 per month to cover its general and
administrative expenses, accounting and legal fees, as well as payments made to
creditors pursuant to payment arrangement plans. Our long record of losses and
inability to obtain substantial financing for the Company raises a question of
whether the Company will continue as an ongoing business.

We intend to seek additional financing from the public or private debt or equity
markets to continue our business activities. Under our Delaware certificate of
incorporation, we have 100,000,000 authorized shares of common stock and are
authorized to issue 20,000,000 shares of preferred stock. We currently have no
preferred shares issued and outstanding.

Although we intend to continue to seek additional financing through sales of
common stock or other means, there can be no assurance that our efforts to
obtain additional financing will be Successful, or that additional financing
will be available on terms acceptable to the Company.

Without additional substantial financing the Company will not be able to execute
its business plan of exploring for platinum and palladium deposits on its
mineral properties. Further, without additional substantial financing, the
Company will be unable to continue to make the required minimum payments and
perform the minimum work requirements on the mineral properties it now controls.
If the Company loses control of its existing properties due to non-payment or
non- performance, it would likely cease to do business.


ITEM  3.  CONTROLS  AND  PROCEDURES.

(a) Evaluation of disclosure controls and procedures. Within the 90 days prior
to the filing of this Quarterly Report on Form 10-Q (the "Evaluation Date"), the
Company carried out an evaluation, under the supervision and with the
participation of its management, including its Chief Executive Officer and its
Chief Financial Officer, of the effectiveness of the design and operation of the
Company's disclosure controls and procedures (as defined in Rules 13a-14(c) and
15d-14(c) under the Exchange Act). Based upon that evaluation, the Company's
Chief Executive Officer and its Chief Financial Officer concluded that the
Company's disclosure controls and procedures are effective to ensure that
material information required to be disclosed by it in the reports that it files
or submits under the Exchange Act is recorded, processed, summarized and
reported within the time periods specified in the Securities and Exchange
Commission rules and forms. It should be noted, however, that the design of any
system of controls is based in part upon certain assumptions about the
likelihood of future events, and there can be no assurance that any design will
succeed in achieving its stated goals under all potential future conditions,


                                       13
<PAGE>
regardless of how remote.

(b) Changes in internal controls. The Company evaluates its internal controls
for financial reporting purposes on a regular basis. Based upon the results of
these evaluations, the Company considers what revisions, improvements and/or
corrective actions are necessary in order to ensure that its internal controls
are effective. The Company is currently in the process of improving internal
controls relating to transmittal of its financial information to its accountants
in a more timely manner. To achieve this goal, the Company is implementing on a
company-wide basis a computerized system which will automate the process of
collection of financial data. The Company maintains separate bank accounts in
two locations and is implementing changes to allow consolidation of its banking
accounts to one location, which will also allow the use of tighter security
standards with respect to signing of company checks. Pending full implementation
of these improvements, the Company has instituted additional procedures and
policies to maintain its ability to accurately record, process and summarize
financial data and prepare financial statements that fully present its financial
condition, results of operations and cash flows.

The Company has not made any other significant changes in the Company's internal
controls or in other factors that could significantly affect these controls
subsequent to the date of their last evaluation.


FORWARD-LOOKING  STATEMENTS

This Form 10-QSB contains forward-looking statements that involve substantial
risks and uncertainties. Investors and prospective investors in our common stock
can identify these statements by forward-looking words such as "may," "will,"
"expect," "intend," "anticipate," believe," "estimate," "continue" and other
similar words. Statements that contain these words should be read carefully
because they discuss our future expectations, make projections of our future
results of operations or of our financial condition or state other
"forward-looking" information.

We believe that it is important to communicate our future expectations to our
investors. However, there may be events in the future that we are not able to
predict accurately or control. The factors listed in the section captioned
"Management's Discussion and Analysis or Plan of Operation," as well as any
cautionary language in this Form 10-QSB, provide examples of risks,
uncertainties and events that may cause our actual results to differ materially
from the expectations we describe in our forward-looking statements. Investors
and prospective investors in our common stock should be aware that the
occurrence of the events described in the "Management's Discussion and Analysis
or Plan of Operation" section and elsewhere in this Form 10-QSB could have a
material adverse effect on our business, operating results and financial
condition.


PART II

ITEM 1. LEGAL PROCEEDINGS.

Nevada Southwest Investments LLC, dba Reno Business Park, obtained a judgment
against the Company in the Second Judicial District, Washoe County, Nevada to
collect the amount of $17,608.29 due under a rental lease agreement for office
space the Company chose to vacate. The Company did not contest this action since
it had no basis to do so. This court judgment, unless paid, may ultimately


                                       14
<PAGE>
result in liens against the Company bank account, other Company assets, or the
mineral properties held by the Company. Such liens may have the impact of
reducing the capability of the Company to remain as a going concern. The Company
is currently negotiating with the counsel of the creditor to make suitable
payment arrangements to pay this judgment over time. The creditor is seeking to
schedule a debtors exam hearing in the State of Idaho at the time of this
report.

We are unaware of any other legal proceedings involving the Company at this
time. However, because we have accounts payable, some of which are overdue, it
is possible that at anytime creditors of the Company could take action to
collect such amounts due.



ITEM 2. CHANGES IN SECURITIES AND USE OF PROCEEDS.


We had 33,229,085 shares of common stock issued and outstanding as of March 31,
2004.

Common Stock
------------
None  issued  during  the  reporting  period


Options
-------

None  issued  during  the  reporting  period.

Warrants
--------

None issued during the reporting period. Pursuant to an agreement with a major
shareholder, terms of existing outstanding warrants were modified which
generally increased the exercise price and shortened the related expiration
dates. These modifications had no impact on net income for the period.


ITEM 3. DEFAULTS UPON SENIOR SECURITIES.

None.

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

None.

ITEM 5. OTHER INFORMATION.

None.

ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K.

(a)     Exhibits

None.

-------------

(b)     Reports  on  Form  8-K.

None


<PAGE>
SIGNATURES

In  accordance  with  the  requirements  of  the  Exchange  Act,  the Registrant
caused this Report to be signed on its behalf by the undersigned, thereunto duly
authorized.

TREND MINING COMPANY


Dated:  May 19, 2004
By:  /s/  Kurt J. Hoffman
---------------------------
Kurt J. Hoffman
President and Chief Executive Officer
(Principal Executive Officer)


Dated:  May 19, 2004
By:  /s/  John P. Ryan
-------------------------
John P. Ryan
Chief Financial Officer


<PAGE>